Renewable Energy Project Finance Modeling

Course content

Build a renewable energy project finance model from scratch.

Develop a best-practice financial model and optimize it for both debt and equity investors for a renewable energy project finance deal. Learn from industry leaders and ivy league professors either in-person at a public session, on-site at your offices or campus, online, or our new live streaming courses.

Self Paced Online Renewable Energy Project Finance Modeling available now.

Live Streaming  online training courses

Live streaming  online training courses are as close as you get to the experience of an in-person class. Participants will develop a full financial model together with the instructors, with the ability to ask questions and seek individual support and feedback. The courses include all of the benefits of live classroom training.

The course includes:

  1. One-on-one access to our instructors
  2. Free access to the online self-paced learning version of the course
  3. 2.5 hour live sessions for 3 days a week (Tuesday-Thursday) over a 3 week period
    1. This gives you time to review concepts before the next class
    2. Or for you to dive deeper into concepts that are covered in the self-paced online course
  4. Recordings of each session
  5. A chance to grow your network!

Customised Learning Solutions

Develop a course that is right for your team.

At Pivotal180, we are all about providing real skills and knowledge, acquired over time, utilizing methods including in-person training, live streaming sessions, coaching and mentoring and online learning.

Pivotal180 is able to customize training to include company-specific case studies, formats, templates, technologies and geographies.

If you’d like your team to learn about term sheets and legal documentation based upon contracts from a deal within your portfolio, we would be happy to accommodate your specific needs.

And if you want your training to based upon a unique financial model – like a biodiesel power project subject to the local tax regime in Madagascar – we can make that happen.

If you’re thinking about training for your team, you might be wondering what’s available, both in terms of subject matter as well as delivery options. Our renewable energy course development tool may also help you. As well as providing a comprehensive list of available modules, grouped by topic, it also shows:

  • Class time (important when planning in-person training)
  • If there is a modeling component to the lesson
  • If the lesson is available on our online platform

If you would like to receive the renewable energy course development tool please share your details and we will send it to you, or contact us directly to discuss your requirements.

Course Outcome

Learn best practice financial modeling by doing

Understand renewable energy finance concepts and operations

Optimize the model to achieve requirements of all investors

Prepare professional outputs for decision making

Download our Renewable Energy Course Development Tool to help you design the course that is right for your team.



Course Previews

REQUIREMENTS OF DSRA

Renewable Energy Course - Model Familiarization

What is Project Finance

OUR BLENDED LEARNING COMBINING IN-CLASS AND ONLINE MATERIAL ENSURES WE TEACH MORE AND YOU LEARN MORE. 5 DAYS OF MATERIAL IS CONDENSED INTO 3 DAYS + ONLINE CONTENT.

Course Portfolio Region Course Delivery Start Date Price Register/Enquire
Renewable Energy Project Finance Modeling All Online Self Paced Available Now USD 800 Register
Renewable Energy Project Finance Modeling Americas Live Streaming 22 Sept 2020 Course Full Reserve a place
Renewable Energy Project Finance Modeling UK/Europe Live Streaming 13 Oct 2020 Contact Us Reserve a place
Renewable Energy Project Finance Modeling Asia Pacific Live Streaming 27 Oct 2020 Wait List Reserve a place
Renewable Energy Project Finance Modeling Africa & ME Live Streaming 10 Nov 2020 Contact Us Reserve a place
Renewable Energy Project Finance Modeling Americas Public Session Late 2020 Contact Us Reserve a place
Renewable Energy Project Finance Modeling UK/Europe Public Session Late 2020 Contact Us Reserve a place
Renewable Energy Project Finance Modeling Africa & ME Public Session Late 2020 Contact Us Reserve a place
Renewable Energy Project Finance Modeling Asia Pacific Public Session Late 2020 Contact Us Reserve a place
Renewable Energy Project Finance Modeling All Inhouse Tailored On request Contact Us Request proposal

Contact us for on-site or on-campus pricing and options.

The cost of the online course will be credited to you if you join a public session or live streaming  within 12 months of purchase.

Discounts provided off the training course prices.

  • Students and non-profits are eligible for a discount of 50% (no other discounts may be added to this).  Online course price for students and non profits is $400.
  • Other discounts
    • Group booking of 3 or more people – 15%  Price per person for online group bookings is $680
    • Early bird (interactive online and public sessions only ) if book 8 weeks before the course – 10%
  • 12 months access to our online material, including concept videos with transcriptions, lecture slides, downloadable spreadsheet examples.
  • A complete step-by-step model walk-through, and access to discussion forums for ongoing questions’.
  • Subscription can be extended annually post the first 12 months for $100 per annum.
  • Lunch, tea & coffee at the venue (public session participants only).
  • Membership to the Pivotal180 alumni network.
  • Course completion certificate.

Due to the large volume of content available, the course is suitable for all-levels – there is something for everyone.

  • Analysts, associates & vice presidents at banks, funds, investors, developers, and operating entities looking to standardize approaches to modeling or solve new problems
  • More senior participants changing careers or looking to up their skill-set
  • Students wishing to enter the renewable energy sector or about to start new roles – get ahead of your competition now
Section Overview
Pre-course material
  • Course requirements and overview
  • Excel functions required
  • Shortcuts, named ranges, and data validation
  • Best practice principles
  • Best practice – flags and accounts
  • Net present value (NPV) and internal rate of return (IRR)
Project finance introduction
  • Introduction to project finance
  • Typical investment structures
  • Tax and legal implications
  • Overall timeline and cashflow relationships
  • Major contracts and risk vs reward
  • Roles of different parties in the deal
Project finance term loans
  • Impact of leverage on a deal
  • Types of lenders and their mindset
  • Appropriate discount rates and interest repayments
  • Principal repayment options (linear, mortgage, DSCR sculpted)
  • Debt service cover ratio (DSCR)
  • Sculpting and sizing debt
  • Loan life cover ratio (LLCR) and other debt ratios
  • Bullet, balloon, and mini-perm repayments
  • Cash sweeps
  • Understanding a Facility Agreement
Generation and the grid
  • Capacity versus energy
  • Capacity factors for different technologies
  • Power curves and forecasting
  • Typical losses and degradation
  • Calculating P50 and P99 generation
  • Probability analysis in determining P-factors
  • Seasonality
  • Common risk areas and ‘things that go wrong’
  • Developing the energy generation calculations
Selling energy
  • Capacity payments, energy payments and price x volume
  • Comparison of different offtakers
  • Common REC and ROC structures (coming soon)
  • Merchant tails
  • Escalation provisions in contracts
  • Scenarios and modeling a PPA with merchant tail
  • PPA contract overview
  • Alternative revenue models (coming soon)
Costs
  • Typical costs for wind and solar projects
  • Major maintenance accounts
  • Other common reserve accounts
  • Model common fixed and variable costs
  • Understanding an O&M Agreement
  • EPC costs
Waterfall and cashflow summary
  • Typical waterfall structure vs cashflow statement
  • Global differences in calculating the waterfall
  • Accounts required and the role of the administrative agent
  • Develop cashflow forecasts for P50 and P99
  • Develop data tables for scenario and sensitivity analysis
Debt service reserve account (DSRA)
  • Requirement of (and implementation of) a DSRA
  • Impact of the DSRA on debt ratios
  • The debt service facility as an alternative
  • Develop model checks to ensure compliance with loan documents
Construction phase
  • Review of an EPC term sheet
  • Completion testing required
  • Sources and uses
  • Model construction costs and understand funding challenge
  • Calculate total funding required
  • Discuss alternative drawdown orders
  • Comparison of costs to the Levelized cost of energy (LCOE)
Depreciation and tax
  • Straight line, reducing balance, life of asset, and MACRS depreciation
  • Model from EBITDA to EBT
  • Tax losses carried forward
  • Tax credits (US only)
  • What happens when tax is ahead of CADS
  • International tax considerations (i.e. WHT, tax treaties)
  • Complete post tax valuations
Tax Equity
  • Inefficient versus efficient tax payers
  • Incentives for tax equity investors, including the ITC and PTC
  • Deal and flip structure
  • Back-leverage overview
  • Tax equity sizing considerations
Returns
  • Returns required for lenders, equity, and developers
  • Cap rate compression and the value in selling your project, calculating terminal values
  • Back-leverage and holdco debt to increase returns (and risk)
  • Typical valuation comparables
Core outputs
  • Comparison of accounting and tax depreciation
  • Developing an income statement and balance sheet
  • Converting quarterly calculations to annual outputs
  • Calculating working capital
  • Add deferred taxes to your model
  • Outputs required for an investment decision
Modeling quality checks
  • Model Checks required
  • How do I review a model?
Optimizing a deal model
  • Solve the price required to achieve a hurdle rate
  • Size the debt required in operations and construction
  • Introduction to VBA for project finance
  • Running scenarios with VBA
  • Simplifying alternatives to avoid VBA

Pre-requisites

Basic knowledge of Excel only Two monitors is preferrable but not essential.

Equipment Required

Area Items Needed
Online Course

Computer, 2 screens preferable, Microsoft Excel

Public Session

Laptop & Power cord

Public courses run from 9am – 5.30pm at a location to be confirmed post registration

Live streaming are 2.5 hour live sessions for 3 days a week (Tuesday-Thursday) over a 3 week period

Live streaming classes start at 11am New York time, so are accessible to most people in the Americas, Africa, and Europe

Online course has over 26 hours of content and will take about 40 hours to complete if you do it from start to finish

Range Amount
>4 weeks before the course Full Refund
1-4 weeks before the course 50% Refund
<1 week before the course No Refund

Get in touch to discuss our training or advisory services